Saturday 13 July 2024
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Super Group one step closer to being delisted from Singapore Exchange

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Demuslab

SINGAPORE – Super Group is one step closer to being the next company to be delisted from the Singapore Exchange (SGX). Dutch coffee maker Jacobs Douwe Egberts (JDE) announced that it wants to acquire all the issued shares of the company behind supermarket staples such as OWL 3-in-1 coffee and Super Cup instant noodles.

Super earlier received a takeover offer of S$1.45 billion from JDE.

Through its investment vehicle Sapphire Investments, JDE is offering S$1.30 in cash for each share, which represents a premium of almost 35 per cent over the last traded price per share in end-October.

That was when a trading halt was called and Super Group announced a pre-conditional cash offer, subject to regulatory approval.

In a press release, JDE CEO Pierre Laubies said the company intends to delist and privatise Super Group.

The Singapore food and beverage firm, which has operations across Asia, added that the acquisition will allow the company to further strengthen its brand, business operations and product offerings.

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